Two-thirds of failed stablecoin projects were backed by gold

Stablecoins were once touted by some as a fix for
cryptocurrency’s volatility. Thing is, it seems they’re not as
stable as their name would suggest. Most of the stablecoin projects
announced since 2017 are still yet to launch, and two-thirds of
stablecoin projects that have failed were backed by gold. Since the
beginning of 2017, 119 stablecoin projects have been announced and
are still yet to be rolled out to the public, there are currently
66 active stablecoins, according to research from blockchain
analytcis firm Blockdata. To date, 24 stablecoin projects have
closed down and ceased operations. Around two-thirds (16)…